Looking at the dashboard, both the performance of Japan equities and treasuries caught my attention. Japan Qualitative and Quantitative Easing (in layman’s term, buying both treasuries and equities from the market) seem to be working in the market. Japanese YEN currency was poised for further depreciation to boost its corporates’ earning; while Korean WON was at the sideline for now… going to depreciate soon. This may resulted in a spiral depreciation in the currency war between Japanese YEN and Korean Won. USD likely to be the direct beneficial currency; whereas the China get a boost for its foreign USD treasuries holding.

Weaker commodities price and economic growth saw Australia equities market fell further. Australian currency may depreciate further to boost its export. Once again, who are going to benefit the most? USD and China. Maybe the Chinese are buying up the commodities for their own internal consumption.

Our local benchmark, ......